JF3464: Rents Are Cooling, but Not Everywhere: How Class A ‘Luxury’ Supply Is Putting Pressure on Class C Rents ft. Jay Parsons

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 28 February 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to the Best Ever midweek news brief, a new series where we will highlight the top headlines CRE investors should be paying attention to this week, followed by a deep dive on a larger news topic or trend alongside a CRE expert.

Today’s Headlines:

Self-Storage Boom Set to Peak: A recent report from Yardi Matrix predicts a surge in supply for 2024 and 25, followed by a decline in later years, signaling a major shift in what’s become an attractive asset class for investors.
‘Cause for Optimism’ in NNN?: Triple-net-lease average closing cap rates declined in January while inventory dropped for a second consecutive month, to signs that Chris Lomuto of Northmarq says could be “cause for optimism.”
Rents Are Cooling … Sort of: New “luxury” Class A supply is putting downward pressure on rents at all price points. It’s a phenomenon called “filtering,” and there are 12 U.S. markets where Class C rents are falling at least 6% year-over-year. All 12 of those markets have supply expansion rates ABOVE the U.S. average.

Today’s Guest: Joining host Paul Mueller on the Best Ever Show today is Jay Parsons. Jay is Head of Economics and Industry Principals at RealPage. As a rental housing economist, Jay is one of the leading voices in multifamily real estate. He’s an author, speaker, and an expert in market trends and forecasts, rental housing policy issues, property management, and more. If you want to read more from Jay on this story, he’s posted on Twitter and LinkedIn about it recently. You can also follow him on LinkedIn and on Twitter @JayParsons.

Sponsors:

Monarch Money

My1031Pros

Transcript

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1:21.8	Welcome to the Best Ever Show, the world's longest running daily commercial real estate
1:26.5	podcast.
1:27.7	Our hosts interview commercial real estate experts every day to get you the best advice ever with none of the fluffy stuff.
1:34.4	Hello best ever listeners and welcome to the best real estate investing advice ever
1:38.1	show. I'm your host for today Paul Mueller and we're back today with another best ever midweek news brief, where we will run
1:45.2	through some of the week's top CRE headlines for you, then invite an expert in to discuss our
1:49.9	top story before sending you off for your day, hopefully a little bit more informed.
1:54.8	In today's episode, the Self Storage Outlook takes an unexpected turn.
	...

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